“Apple’s (AAPL) shares, in case you missed it, took a drubbing last week, falling $38.77 (6%) in four days — from Tuesday’s all-time intraday high of $644 to Friday’s close at $605.23,” P.E.D. reports. “To be sure, there was a bit of negative news that could have triggered some selling. The Justice Department’s antitrust division sued Apple and five publishers last Tuesday for collusion in the e-book trade. But that doesn’t really justify knocking $36 billion off Apple’s market cap. Sales of e-books amount to a tiny fraction of a revenue rivulet…”
P.E.D. reports, “This is where Jason Schwarz comes in. I’ll post a summary of his seven reasons below the fold, but the meat of his argument can be summarized in two sentences: ‘If you can keep a good stock down then you are able to load up for the ride back up. It’s like a slingshot — the harder you pull, the more propulsion you generate.'”
Read more in the full article here.
MacDailyNews Take: As we’ve written frequently, as recently as January:
AAPL is like a buoy. Quick, it’s back on the surface! You there, analyst, and you, too, swim down and tug on the chain! Drag it under.. lower, lower… good! Now, quick, everybody jump on, and we’ll take a ride back up to the top again!
Rinse, lather, repeat.
[Thanks to MacDailyNews Reader "JES42" for the heads up.]